Kirkland Lake Gold Finalizes Appointment of Eric Sprott as Chairman of the Board
TORONTO, ONTARIO -- (Marketwired - Feb 20, 2015) - Kirkland Lake Gold Inc. ("Kirkland Lake Gold" or the "Company") (TSX:KGI) (AIM:KGI), announces that the appointment of Mr. Eric Steven Sprott as Chairman of the board of directors has now been approved, and that Mr. D. Harry W. Dobson will retire from his position as Chairman and as a director of the Company, effective immediately.Mr. Sprott stated "I'm delighted to be joining the Kirkland Lake Board at this exciting time as the Company's turnaround continues to gather pace. The Kirkland Lake Gold camp is one of the most prolific gold camps in the world, blessed with world-class grades and situated in a stable jurisdiction. Our Company controls and has 100% ownership of five former producing mines in the camp, that have in totality produced in excess of 22 million ounces of gold. I believe there is significant opportunity for further organic growth from our large land package within the Kirkland Lake camp that will help us build the next great Canadian gold mining company."
Mr. George Ogilvie, CEO, commented "On behalf of the board of directors I once again wish to express our sincere gratitude to Harry as founder of the Company for his years of support and dedicated service to the Company."
About the Company
Kirkland Lake Gold Inc.'s corporate goal is to create a self-sustaining and long-lived intermediate gold mining company based in the historic Kirkland Lake gold camp, as well as to explore opportunities for growth in other safe mining jurisdictions. The Company plans to do this by mining to the reserve grade, generating profits and free cash flow with a view to maximising value for the shareholders. The Company will also look to take advantage of its increased infrastructure capacity in the appropriate gold price environment. At the same time, the Company is committed to maintaining a significant exploration program aimed at developing and maintaining a property wide reserve and resource base sufficient to sustain a mine life of more than ten years.
Over the last several years the Company has invested significant capital to improve the infrastructure of the business including upgrading the production hoist, skips, mill, underground mobile equipment and capital development. From initial discovery to present day there have been over 24 million ounces of gold mined from the Kirkland Lake gold camp while the current reserve and resource provides for potentially 10 years of mining with exploration upside.
Neither the Toronto Stock Exchange nor the AIM Market of the London Stock Exchange has reviewed or accepts responsibility for the adequacy or accuracy of this news release.
Contact
Kirkland Lake Gold Inc.
George Ogilvie, P.Eng, Chief Executive Officer
+1 709 532 5716
+1 705 568 6444
gogilvie@klgold.com
Kirkland Lake Gold Inc.
Suzette N. Ramcharan, CPIR, Director of Investor Relations
+1 647-284-5315
+1 705 568 6444
sramcharan@klgold.com
www.klgold.com
NOMAD: Panmure Gordon (UK) Limited
Dominic Morley / Adam James
+44 (0) 20 7886 2500
Blytheweigh
Tim Blythe/Halimah Hussain/Camilla Horsfall
+44 (0) 20 7138 3204
